Thomas Cook snapped up by Polish tech firm in £30m buyout September 5, 2024 British travel agency Thomas Cook has been acquired by a Polish tech firm, marking its return to Europe after spending four years under Chinese ownership. The acquisition by eSky, a Katowice-headquartered search engine and reservation system provider for airlines, will see its current owner, Fosun, hand over all but the Chinese arm of the business [...]
Construction sector ‘turns a corner’ as housebuilding jumps September 5, 2024 Tim Moore, economics director at S&P Global Market Intelligence, said the recovery in housebuilding was the "most notable development" in August.
Bank of England should take ‘measured approach’ to interest rate cuts after balanced survey September 5, 2024 The Bank of England’s survey covers prices charged across the whole economy, not just in consumer-facing firms.
Schroders set to promote CFO Richard Oldfield to CEO September 5, 2024 Schroders is set to promote its chief financial officer Richard Oldfield to CEO after Peter Harrison announced in April that he would be retiring. Oldfield, who joined Schroders last year from PwC, will be promoted to the top role next year, according to reports in the FT. Oldfield worked as PwC for over 20 years, [...]
‘Madness’: Sky News moves Ian King Live out of Square Mile September 5, 2024 Sky News’ flagship business programme, Ian King Live, has left its iconic Square Mile address, relocating to Sky Group’s headquarters in Osterley, City A.M. has learned. The channel initially moved its business operations to 10 Fleet Place in September 2019, where it shared a studio with sister channel CNBC Europe. However, according to correspondence seen [...]
Reeves is right to squeeze private equity – but a sweeping capital gains hike will hurt the City, says Cavendish chair September 5, 2024 The government is right to launch a raid on the profits made by private equity bosses but a sweeping hike in capital gains and inheritance tax could suck investment out of the City, the chair of investment bank Cavendish has warned. Lisa Gordon, who chairs the London-listed broking group, urged Rachel Reeves to be “more [...]
‘Heavy discounting’ sparks new electric car sales surge September 5, 2024 New electric vehicle (EV) registrations jumped in August as “heavy discounting” by manufacturers and a raft of new models tempted consumers to make the switch. The latest figures from the Society of Motor Manufacturers and Traders (SMMT) reveal a 10.8 per cent increase in battery electric vehicle (BEV) registrations in the last month. BEVs now [...]
More than 750 jobs at risk as Bakkavor set to axe major UK factory September 5, 2024 More than 750 jobs are at risk at the fresh food maker Bakkavor after the London-listed group said it would close one of its North West factories. The company, which is headquartered in London, said today it was looking at axing its Wigan facility after a review revealed it would need “significant investment” to continue [...]
No ‘free pass’ for Royal Mail as Ofcom review gets underway September 5, 2024 Communications watchdog Ofcom is considering reforms to the UK’s embattled postal service, with changes to second class letter delivery proposed in order to help turn Royal Mail around. It follows the launch of a “national debate” earlier this year on how to ensure the postal service remains affordable, efficient and sustainable amid declining letter volumes [...]
International Public Partnerships rides high on ‘strong’ outlook for infrastructure September 5, 2024 Infrastructure investment company International Public Partnerships has continued to boost its portfolio with four new investments and has argued that the market considers its share price “materially undervalued.” The FTSE-250 firm hiked its dividend growth target by three per cent to 8.37p per share in the six months ended 30 June, and declared a fully [...]
